Yanlord Land : Disposal And Establishment Of Entities In Hangzhou, The People's Republic Of China ("PRC")

YANLORD LAND GROUP LIMITED

(Incorporated with limited liability in the Republic of Singapore)

(Registration Number: 200601911K)

DISPOSAL AND ESTABLISHMENT OF ENTITIES IN HANGZHOU, THE PEOPLE'S REPUBLIC OF CHINA ("PRC")

Yanlord Land Group Limited ("Company" and together with its subsidiaries, "Group") wishes to announce that it has through its wholly-owned subsidiary, Shanghai Renan Property Development Co., Ltd.1, disposed of ("Disposal") a 50% interest in Hangzhou Renyuan Property Development Co., Ltd.2 ("Hangzhou Renyuan") to two companies which are not related parties as defined in the relevant accounting standards and not interested persons as defined in the Listing Manual of the Singapore Exchange Securities Trading Limited for a total cash consideration of RMB2.5 million ("Consideration"). The Consideration was arrived at on a willing buyer, willing seller basis taking into account the registered capital of Hangzhou Renyuan and was partially paid with a balance of RMB50,000 remaining unpaid. Hangzhou Renyuan owns a 100% interest in a project company in Hangzhou, PRC, known as Hangzhou Renxiang Property Development Co., Ltd.3 ("Hangzhou Renxiang"), which was set up pursuant to the terms of the cooperative agreement and following the Disposal, the Company's effective interest in Hangzhou Renyuan, and consequently Hangzhou Renxiang, is reduced from 100% to 50% accordingly.

Other details of Hangzhou Renxiang are set out below:-

Hangzhou Renxiang

Registered capital Principal activity

: RMB10,000,000 : Property developmentThe net tangible asset value of the Disposal based on the management accounts as at 30 September 2018 was approximately RMB2.5 million.

The above transaction is not expected to have any material impact on the net tangible assets per share or earnings per share of the Group for the financial year ended 31 December 2018.

None of the directors nor controlling shareholder of the Company has any interest, direct or indirect, in the above transaction save for their respective interests, through their shareholdings and/or directorships, as the case may be, in the Group.

Submitted by:

Zhong Sheng Jian

Chairman and Chief Executive Officer

10 January 2019

• 1 An unofficial English translation name of 上海仁安房地产开发有限公司.

• 2 An unofficial English translation name of 杭州仁远房地产开发有限公司.

• 3 An unofficial English translation name of 杭州仁祥房地产开发有限公司.